Automated Truck Market Trend, Acquisitions, and Sensor, Industry Forecast, 2021-2027

Automated trucks, also referred as self-driving trucks, require no human intervention for the propulsion of vehicle. An automated truck is a commercially used vehicle that relies on different techniques that enable it to sense the surroundings and navigate without any human input. Automated trucks majorly rely on satellites, guided systems, and ground sensors for propulsion. New automated trucks are witnessing rapid adoption in end-use industries. Increase in demand for goods & supplies for faster delivery across various countries escalates the demand for automated trucks, which is estimated to further drive the market over the forecast period.

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COVID-19 scenario analysis:

• COVID-19 has primarily affected the transportation sector. Furthermore, due to global lockdown, the demand for transport reduced drastically.
• Governments have taken several measures to fix the supply chain issues. For instance, trucks were allowed to operate for delivering or picking up goods.
• The supply chain disruption & slowdown caused by COVID-19 is expected to decrease freight demand in medium-term transportation.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Shortage of truck drivers and increased supply of goods & materials to various end-users are expected to drive the growth of the market. Moreover, increased requirement of fuel efficiency and strict regulation regarding harmful emission hamper the growth of the global market. Autonomous trucks are based on advanced software systems and satellite-based servers. Therefore, the development of a secure database is expected to provide lucrative opportunities for the automated truck market.

The automated truck market trends are as follows:

Shortage of trucks drivers

Shortage of truck drivers is a major issue faced by many developing countries, where there is massive demand due to their high production level. Many countries invite international workforce as drivers by offering special visas. However, the demand is still not met as there is a huge number of workers either switching the job or are not interested in the job. Therefore, this significantly increases the need for an automated truck and is estimated to further drive the market over the forecast period.

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Increased supply of goods and materials to various end-users

Companies, such as mining and e-commerce, face the daily challenge of meeting deadlines of customers. Due to competition among these companies, early delivery has become a cutting-edge strategy to maintain a good position in the market. Due to rapid increase in demand for early deliveries and short-term deliveries of raw materials, the automated truck market is expected to grow at a significant rate over the forecast period.

Key benefits of the report:

• This study presents the analytical depiction of the automated truck market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the automated truck market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the automated truck market growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.

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